Wednesday, November 4, 2015

Maersk Line to Cut Capacity and Jobs as Global Demand Sags

A.P. Moeller-Maersk A/S is scaling back capacity and cutting jobs in the world’s largest shipping line to adapt to a drop in demand.

The Danish company, which last month lowered its profit forecast for 2015 citing a gloomier outlook for the global shipping market, will shed 4,000 jobs in its Maersk Line unit as part of a program to “simplify the organization,” it said in an e-mailed statement on Wednesday.

Story here


Less action in the ports, means less action at the distribution hubs, means less freight action on our highways, means less consumer action at the store because... You know.

People can't spend money they don't have. Those that do spend money they don't have, are usually spending other people's money. We know how that works.

The well is running dry. I'd suggest getting into the health insurance industry. I hear they are projected to do very well in the upcoming years. I mean, after all, it's guaranteed money for them. Why not get a piece of the extortion racket?

Signs, signs, every where signs...

No raises in 2016 due to “cheap oil”. Mark it.

I cannot wait until we will be allowed to reintegrate into the low unemployment rated job market as low-wage workers for Chinese businesses when they onshore to the US.

Significant numbers of the low-IQ, genetically inferior folk will find themselves slow and fast killed by high crime, malnutrition, drugs, chemicals, and each other.

You want a sure bet? Buy hundreds of mason jars, seals, and rings. Learn to can your own soups, meats, and veggies. Buy a farmers almanac and learn a little something. Your life might depend on it.

As always, that's about as raw and sugar free as I can say it.



Paul, Dammit! said...

The container companies build ships to avoid paying taxes on profit. Works great until the economy craters, and then they end up parking ships in the lochs of Scotland. The last slowdown, the whole industry got into 'slow steaming' on long routes, to save on fuel, so bigger ships became more desirable... and so medium and large ships kept working, ultralarge ships were built to be more efficient... and now there are more ships than ever, more profit was reinvested in new ships, and now there's also no demand for used medium-sized ships. Meanwhile shipyards have backorders for years, with new ships already contracted for, regardless of need.

It looks ugly. I'm really glad I move oil.

Stackz O Magz said...

Oil, refining, ultra-low sulphur diesel, bio-diesel, gasoline, coal to coke, plastic, and rubber are my areas of bill paying. As long as those keep up I'll be fine. It's the low margin / high volume routine that seems to be new mode of business that is killing me. Shit, I like paying $3.00 per gallon. That's good for us. A lot of these Texas oilfield families are starving. You wouldn't believe the amount of rigs that are parked and for sale in Midland Tx.